Your selected term deposits
Heartland Bank carves out a distinct niche with its customer-centric approach and innovative offerings. Focusing on a blend of digital convenience and personal touch, customers can access tailored financial solutions without complexity. This balance allows them to cater to a diverse range of customers, from everyday savers to those looking for specific investment opportunities.
When it comes to term deposits, Heartland Bank provides a mix of competitive interest rates and flexible terms. Their term deposit offerings range from short terms of just 31 days to longer commitments of up to five years, giving customers the ability to choose a duration that aligns with their financial plans. With no account-keeping fees and the option to receive interest payments monthly or at maturity, savers can manage their investments while benefiting from straightforward, hassle-free banking.
Interest on terms 12 months or more can be paid monthly
No account fees
Substantial minimum deposit required
Reduced rates on monthly interest payments
A Heartland Bank Term Deposit could benefit those seeking a reliable way to grow their savings, offering fixed returns over a set timeframe. You can choose a term duration ranging from 31 days to five years, with investments starting from $25,000 up to $1,000,000. For larger deposits, you’ll need to fill out a special application form and contact the bank for rates.
Heartland Bank doesn’t charge any account fees. You may withdraw your deposit before the end of the term by providing 31 days notice. However, you will receive a lower interest rate for the period your funds were actually deposited. Be aware that your funds automatically roll over into a new term deposit at maturity unless you advise otherwise.
Heartland Bank term deposits require a relatively substantial minimum deposit and are typically only applicable on balances up to $1 million. Interest on terms 12 months or more can be paid monthly but you’ll have to accept a lower rate than that paid at maturity.
While Heartland Bank term deposits can be a helpful savings option, it might be worth considering alternatives that could offer better returns.
| 1 month | 1.75% p.a. | ($25,000 - $1,000,000) |
| 3 months | 4.85% p.a. | ($25,000 - $1,000,000) |
| 6 months | 5.04% p.a. | ($25,000 - $1,000,000) |
| 9 months | 5.10% p.a. | ($25,000 - $1,000,000) |
| 1 year | 5.05% p.a. | ($25,000 - $1,000,000) |
| 2 years | 4.65% p.a. | ($25,000 - $1,000,000) |
| 3 years | 4.55% p.a. | ($25,000 - $1,000,000) |
| 4 years | 4.40% p.a. | ($25,000 - $1,000,000) |
| 5 years | 4.40% p.a. | ($25,000 - $1,000,000) |
Your selected term deposits
This provider is as good if not better than the so called big four. No hidden fees, never a problem
Heartland Bank is an Authorised Deposit-taking Institution (ADI) regulated by the Australian Prudential Regulation Authority (APRA). This means your deposits are protected under the Australian Government's Financial Claims Scheme, guaranteeing up to $250,000 is secure.
Yes, you can open a Heartland Bank term deposit without being an existing customer. You can link your term deposit to an external account at a different bank or financial provider.
Apply online through the bank’s website, via the bank’s app or over the phone.
You can open as many term deposits as you like. The combined total across all your term deposits is not permitted to exceed $1 million, whether the accounts are in individual or joint names.
The minimum opening deposit for all Heartland Bank term deposits is $25,000.
To set up online banking for a Heartland Bank term deposit, visit the institution’s website and register for online banking. Provide your personal details. Once registered, you can manage your account via your digital profile on the bank’s website or app.
While the bank doesn’t impose any account fees, withdrawing your funds before the term ends will incur penalties. A minimum 31-day notice period and early redemption administration fee will apply. You’ll receive a reduced rate of interest based on how much of the term has elapsed.
Unless specified, your term deposit funds will automatically be reinvested on the maturity date into a new term deposit for the same term at the current interest rate. Be aware that this new rate may be lower than your current one.
A grace period of seven calendar days from the date of maturity applies. During this period you can close your term deposit when it matures without incurring any fees.
You’ll need to contact the bank and provide 31 calendar days notice. If your request falls within 31 calendar days of the term’s duration, you’ll need to wait until maturity to access your funds.
If you’re experiencing financial hardship, contact the bank to discuss your options.
To close your term deposit, you contact the bank. Be prepared to provide your account details, and note that an administration fee and reduced interest penalties will apply if you close the account before maturity.
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Term Deposit Awards
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